Mitsui, Mitsubishi and Nippon Yusen reached a joint venture agreement with the U.S. firm Sempra Energy. The project, estimated to cost $10 billion, plans to produce 12 million tons of liquefied natural gas a year by 2017, or equivalent to 10% of annual Japanese demand. The Nikkei's Sachiko Kishida reports.
NEW YORK-- The Energy Department is expected to report on Thursday that the nation's natural gas supplies grew by 93 billion to 97 billion cubic feet in the week ended May 10, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.
NEW YORK-- The Energy Department is expected to report on Thursday that the nation's natural gas supplies grew by 86 billion to 90 billion cubic feet in the week ended May 3, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.
After blowing through minor support at the 20- day and 40- day moving averages over the last week, chart traders said Tuesday's weak close broke support in the $3.94 per mmBtu area, the 38.2 percent Fibonacci retracement of the move up from the February low of $3.125 to last week's high of $4.444.